While stating that India’s long-termGDP growth potential is 8-10 percent,Mukesh Ambani underscored India wasset to be the fastest-growing economy inthe world. Make in India coinage is typicalof ‘Narendra Bhai Modiji’ as it is aboutpresent and future, as against ‘Made inIndia’, which is steeped in the past. ‘Youhave inspired the whole India to dreamand do,’ Ambani said, noting that Modiworks 14 hours a day. The PM’s interac-Modi invites investorsto manufacture in India

Industry tycoons support ModiÊs ÂMake in IndiaÊ project

Indian Prime Minister Narendra Modi, center, with Cabinet colleagues at the the inauguration of ‘Make in India’, in New Delhi, September 25.

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Indian Prime Minister Narendra Modi made a clar- ion call to investors to choose India as a manufac- turing destination by launching the ambitious ‘Make in India’ program in New Delhi, September 25. Though he offered no incentives, the prime minister promised to create a business-friendly
environment. ‘Incentive schemes can’t attract businesses,
it is important to create the environment of trust and confidence,’ he said.

At an auditorium packed with Indian and foreign industrialists, ambassadors and high commissioners and top
government officials, Modi indicated his government
would ensure an India address was sufficient to attract
investments in manufacturing.

‘You can’t attract investments through invitations…The most essential factor is trust. Let us start with trustand the government will intervene only if it sees anydeficiency.’Defining FDI as ‘First Develop India’, Modi urged Indianindustry to first pursue business in the country and laterbecome multinationals, if they so wished.

The only two tangibles he offered for growing the share
of manufacturing in India’s economy from 15 percent to

25 percent were a 72-hour window to get clarifications on
the Web site makeinindia.com, and 25 defined focus areas.

No incentive was announced, but industry captains in
the audience clapped without a break.

The main auditorium at the city’s Vigyan Bhavan, a pre-mier convention center in the capital, was full by 10 am,a good half an hour before Modi arrived. Among thosewaiting patiently in queue to enter the hall was MukeshAmbani, chair, Reliance Industries. But by the time histurn came, all seats had been filled and security person-nel had closed the door. Ambani was let in only after hispeople convinced the security that he was a speaker atthe function.

Many ambassadors and government secretaries also had
similar experiences.

Such was the rush to hear Modi’s pitch for making Indiaa manufacturing hub that hundreds in the audience hadto be seated in four other halls at the venue. Modi laternoticed many industry representatives standing in the halland apologized, but remarked ‘organizers are not used tothis (crowd).’It was also an occasion for industry to compliment Modifor the success of the Mars Orbiter Mission. Modi said,‘Nobody should doubt Indians’ capability now.’He, however, said the ‘Central Bureau of Investigationscare’ and ‘fear of policy changes’ under the previous gov-ernment had hampered businesses.

‘I was pained to see industry wanting to exit Indiabecause of the absence of an environment of trust andconfidence... From my experience of the past few months Iknow that has changed now.’He assured the industry captains that their money willnot sink if they invest in India.

Many of his Cabinet colleagues like Commerce MinisterNirmala Sitharaman, Telecom and Law Minister RaviShankar Prasad and Power and Coal Minister PiyushGoyal, besides Cabinet Secretary Ajit Seth and PrincipalSecretary Nripendra Misra, were present on stage.

Modi said India must club the ‘Look East’ policy with
the ‘Link West’ plan — a message, perhaps, to the US.

The September 25 event also saw unveiling of a logo, a
portal, brochures on 25 identified growth sectors and a
promotional video.

Pointing to the campaign logo, Modi said, ‘This is thestep of a Lion... Make in India.’‘Global companies want to come to Asia but they don’tknow where to look in Asia,’ he said. ‘Democracy, thedemographic dividend and strong demand are importantfactors, and India has all three.’He added there was a Vasco Da Gama in every corner ofthe world waiting to discover the potential of India andinvest here. He urged industry to tap the potential of hugeIndian market by working towards generating employ-ment which could in turn increase purchasing power ofconsumers. ‘That is the kind of chakra (cycle) I am look-ing at,’ he said.

‘In Make in India we provide you with an opportunity
to create a market for your products. If there are no buyers, it does not matter how many Maruti cars you make,’
Modi said. On opportunities, he spoke of upcoming areas
like waste management for generating power. It is like
multinationals deciding to sell potatoes and tomatoes
(referring to retail trade) some years ago. ‘Kyun Mukesh
Bhai?’ he asked Ambani, who has expanded his retail
business. The latter nodded.